National

Albanese to talk energy with state leaders

By AAP Newswire

Nov 28, 2022

Australian Prime Minister Anthony Albanese — Prime Minister Anthony Albanese has promised to act on rising energy prices before Christmas. -AAP Image

Anthony Albanese will meet with state and territory leaders next week to tackle rising energy prices.

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The prime minister will chair a meeting of the national cabinet on December 7 in a bid to deliver on his promise to take action on prices before Christmas.

"We have a sense of urgency but we also have the sense of making sure that we get it right and get the detail right," Mr Albanese told reporters in Canberra on Monday.

"These issues are not simple because of the different ownership structures, because of the different sources of energy, because of different powers that exist between the Commonwealth and state and territory governments."

The government was also consulting with the energy sector and manufacturers, he said.

Mr Albanese said the aim was to ensure power price rises came in below the forecasts in the October budget.

Treasury assumed in the budget that retail power prices will increase by an average of 20 per cent nationally in late 2022 and a further 30 per cent in 2023/24.

Gas prices are forecast to increase 44 per cent during the same period.